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Alex Falcon
@iamalexfalcon
26.02.2025 21:07
❗️The Truth About the Bybit Hack: A Conversation with the Exchange’s Founder

Recently, the largest theft in crypto history took place—$1.5 billion stolen. Yet, Bybit didn’t freeze withdrawals, didn’t go bankrupt, and continues to operate. What’s more, in just a few days, the exchange restored 70-80% of its liquidity.

My guest is Ben Zhou, the founder and CEO of Bybit. He shared in detail what really happened, how the exchange covered the losses without affecting its users, and what’s next not only for Bybit but for the entire crypto industry.

What lessons has Bybit learned? How will the market change after this incident? Are there any further risks for users? How are the loans structured? And much more.

A must-watch episode for everyone involved in the crypto market.

https://youtu.be/K9dwYw27dB0

Tune in now! ��❤️‍��
YouTube
⚫️ How is ByBit dealing with the challenge? Ben Zhou on user trust, main lessons and perspectives
🟢 Get a bonus of up to $30,000 on Bybit: https://bit.ly/AlexCryptoFalcon (code: 24676) 🟣 My Telegram Channel: https://t.me/alexcryptofalcon 🚀 Earn on the crypto market with ready-made bots - https://xionix.io/ Free month of access to full functionality with the promo code: FALCON The $1.5 billion heist is the largest heist in the crypto market. What really happened? Why didn't ByBit freeze withdrawals despite CZ's timely advice? How did the exchange manage to cover the losses without harming customers? What was the main mistake and what lessons have been learned? And is it true that after the hack ByBit restored 70-80% of its liquidity in just a few days? Ben Zhou talked about the investigation, the next priorities, and a new tool for tracking stolen funds. And why it's important not just to track and recover funds back, but to create an environment and tools that can protect the crypto industry as a whole. What consequences await ByBit and the cryptocurrency market after this incident? Let's break down all the details with Bybit Co-Founder and CEO Ben Zhou. Go and watch 🤟🏽 See you guys! 🤟🏽 ▶ Follow me on social media: ▸ Instagram - https://instagram.com/iamalexfalcon ⏱️Таймкод: 0:00 Ben Zhou - CEO of ByBit 00:24 Ben's emotional state? 01:30 How did the incident affect the processes inside ByBit? 06:32 How is this case different from the FTX crash? 08:36 What really happened? 10:40 24676 - the code for registration 11:43 How will ByBit be further affected by the loss of $1.5 billion? 15:20 Worst Case Scenario 17:03 Will ByBit be able to recover all the money? 20:53 Key takeaways and lessons learned 28:08 What actions will ByBit take to regain user trust? 30:33 Big lesson for the industry ____ Profit for everyone! Subscribe to the channel so you don't miss the next videos. 🔴 This video and its contents are for informational purposes and do not constitute an investment recommendation. *Meta is banned in the Russian Federation #bybit #benzhou #bitcoin #cryptocurrency #btc #crypto #sokolovskiy
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